Evolution and NetEnt merger proves successful with record revenues

Published on 3rd March 2021 by Ben

The online gambling industry experienced considerable growth during 2020, with some key players reporting record revenue and profit. Among the established figures is Evolution, a top B2B service provider specialising in innovative software and smart infrastructure solutions for live casinos. Evolution, which acquired NetEnt in December of 2020, recently announced a 53.4% increase in its total revenue from 2019. They attributed this growth to a few factors, not the least of which was the NetEnt purchase.

Evolution believes that two main factors caused the record profits – revenue from NetEnt and increased commission from current clients. The company noted that total revenue through the 31^st of December (12 working months) was €561.1m, a hefty increase from 2019’s €365.9m total. In addition to the substantial 2020 total revenue numbers, the organisation also reported a 25.5% increase in operating expenses, which ended the year at €261.4m. After accounting for the increased costs, operating profit was €299.7m.

Chief executive Martin Carlesund acknowledged the value that NetEnt brings to the table, saying that:

“Through the acquisition of NetEnt, we add a second vertical to our unrivalled live casino offer and two strong and fantastic new brands to our product portfolio.”

He also notes that the company’s long-term ambitions to take a leading position in the global online casino market are bolstered by the acquisition, expanding its offerings and sharpening its competitive edge.

Evolution is set to redefine the market after the NetEnt merger

Evolution, which welcomed an SBC Awards win in Innovation in Casino Entertainment in 2020, is set to ensure that 2021 is even more impressive with their eyes firmly fixed on the development and release of innovative games they hope will “disrupt” the market, according to the company’s chief product officer, Todd Haushalter. He believes that Crazy Time, the title that secured the organisation’s SBC Awards win, was their most innovative, expansive, and complex game yet, and teases the possibility of augmented reality technology in their 2021 offerings.

For his part, Carlesund is optimistic about the future as he shares his hopes for 2021:

“2021 is off to a strong start and I am excited to soon share more news from the group on how we plan to work with operators to take product innovation and player experience to the next level.”

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